MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

BRIEF: EU-Mercosur Deal In Final Negotiations - EC

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

(M3) Bullish Condition Intact

BRENT TECHS
  • RES 4: $90.00 - Round number resistance
  • RES 3: $88.35 - High Jan 23 and a key resistance
  • RES 2: $87.87 - High Jan 27
  • RES 1: $86.44 - High Apr 3
  • PRICE: $84.57 @ 06:54 BST Apr 6
  • SUP 1: $82.57 - 23.6% retracement of the Mar 7 - Apr 3 uptrend
  • SUP 2: $79.95 - High Mar 31 and gap low on the daily chart
  • SUP 3: $78.25 - 50.0% retracement of the Mar 7 - Apr 3 uptrend
  • SUP 4: $76.32 - 61.8% retracement of the Mar 7 - Apr 3 uptrend

Brent futures are consolidating. The contract remains firm following Monday’s gap higher and print above resistance at $86.17, the Mar 7 high. The move confirms an extension of the recent recovery that started from the Mar 20 low. A clear break of $86.17 would strengthen bullish conditions and signal scope for a climb towards $88.35, the Jan 23 high. A large gap has appeared on the daily chart - key support lies at $79.95, the Mar 31 high and the gap low.

Energy BulletsCommodities
Energy BulletsCommodities

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.